Inventory has climbed a bit in September but historically Las Vegas real estate slows down a little this time of year. Investors are reaping the benefits of lower prices and interest rates.
Click To Enlarge
Click To Enlarge
Click To Enlarge
September Numbers; Las Vegas Real Estate
October 13, 2010
Las Vegas Review Journal Quotes David Brownell
July 16, 2010
LAS VEGAS REVIEW-JOURNAL
By Hubble Smith
Jul. 16, 2010
Copyright © Las Vegas Review-Journal
A surge in foreclosure filings suggests that the housing market is headed for the feared “double dip,” with some analysts predicting a further decline in Las Vegas home prices of up to 20 percent. Nevada continues to lead the nation with one in every 17 households receiving a foreclosure notice in the first half of the year, Irvine, Calif.-based RealtyTrac listing service reported.
The state was hit with 5,140 notices of default in June, 4,736 notices of trustee sale and 2,963 real estate-owned properties that have gone back to the bank for a total of 12,839 foreclosure filings. That brings the six-month total to 64,429 filings, down 6.2 percent from the year-ago period and down 13.2 percent from the second half of 2009….
…David Brownell of Keller Williams Realty in Las Vegas sees a fundamental shift in the local housing market as short sales catch up with and maybe surpass foreclosures. He counted 1,550 foreclosure sales in June, or 38 percent of total sales, compared with 1,403 short sales, or 34 percent of the total. That’s the closest they’ve ever been…(click here to continue reading…)
May Numbers Just Released!
June 8, 2010
Las Vegas Real Estate May Numbers
A vital and thriving market has returned to Las Vegas. Prices have flattened and in many communities started back up. Foreclosures are fading into the background as banks find better and more cost-efficient ways to handle these liabilities. Short-Sales rise 2 and 3 times last year’s volumes and deals are getting done.
The numbers are encouraging. By many indicators Las Vegas real estate hit bottom late last year and now seems to be headed back up.
